Kraken launches US debit card for crypto and fiat spending

Crypto exchange Kraken has announced significant expansions to its service offerings in both the United States and Europe. In the US, Kraken's payment app, Krak, has introduced a multi-asset debit card. This new card allows customers to spend a wide array of assets, including over 600 cryptocurrencies and fiat currencies. The card is issued by Lead Bank and operates on the Visa network. Users can benefit from up to 2% cashback on purchases. A notable feature of the card is its ability to draw funds from multiple balances to cover a single transaction, offering flexibility to users managing diverse digital and traditional assets.

Concurrently, Kraken has expanded its trading services to eligible customers within the European Economic Area (EEA). This expansion allows European users to trade over 7,000 US-listed stocks. These traditional equity offerings are now available on the same platform where customers can already trade cryptocurrencies and tokenized equities. This integration aims to provide a unified platform for a broader range of investment options, combining traditional finance with digital assets.